Justice B Sudheendra Kumar deferred the hearing, turning down the actor's fervent plea to hear the same urgently.
While deferring the plea, the court said it would first hear the prosecution's argument against the bail plea on Thursday.
Though counsel for the accused repeatedly insisted for a urgent hearing of the matter, the court said the plea can be considered only after hearing the investigation agency.
He argued that the actor was arrested on the basis of the statement by co-accused Sunil Kumar, alias 'Pulsar' Suni.
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Dileep's counsel said the police has arrested his client solely on the strength of the statement of the first accused, who is a notorious criminal involved in number of abduction and robbery cases.
The police made the petitioner an accused and arrested him on July 10 without conducting any independent inquiry, the counsel said adding he has been in custody since then.
The actor moved the high court for bail after an Angamaly magisterial court refused to grant him the relief and sent him to judicial custody till July 25.
Rejecting the bail plea, the magistrate court had said there is a chance of him tampering with the evidence.
The court had said the bail was rejected to ensure his presence during investigation and also to convey the strong message to "like-minded persons that these offences will not be taken lightly."
Opposing Dileep's bail plea in the magisterial court on Saturday, the prosecution had claimed that there was strong evidence against the actor.
The prosecution counsel had also expressed fears that on his release on bail, the accused might hamper the probe and tamper with evidence besides trying to influence witnesses.
It would also adversely affect the ongoing probe into the conspiracy behind the sensational case, the prosecution had said.
In their remand application, the police had claimed that Dileep had developed a grudge against the actress for letting his former wife know about his alleged affairs and had hatched a conspiracy to take revenge way back in 2013.
The actress, who has worked in Tamil and Telugu films, was abducted and allegedly molested inside her car for two hours by the accused, who had forced their way into the vehicle on February 17 and later escaped in a busy area here.